People & Company News, Week of December 19, 2025
- Bevin Nealon has been tapped as VP and private wealth advisor at RIA Procyon. Nealon will focus on deepening and strengthening client relationships through personalized wealth planning and bespoke portfolio management. Nealon, who brings three decades of experience to Procyon, will be based in Procyon’s Shelton, Connecticut office, and will serve clients across the Northeast, California, and Florida. Prior to joining Procyon, Nealon previously served as a first VP at Wells Fargo, where she managed more than $100M for clients.
- Shannon Reid has been appointed as president and head of advisor growth and engagement at Osaic Wealth. Reid will lead advisor recruiting, retention, and engagement initiatives and further the expansion of Osaic’s W-2 model. Reid will assume the position on January 12 and will report to CEO Jamie Price. Before joining Osaic, Reid previously served as president of the independent contractor division at Raymond James.
- Adam Birenbaum has been appointed as CEO of Focus Financial Partners. Birenbaum will be succeeding Michael Nathanson, who will become Focus Financial’s chairman and will continue to serve on the firm’s board of directors. Birenbaum will serve as a member of Focus Financial’s board of directors, starting on February 1. As Focus’s CEO, Birenbaum will lead the execution of the firm’s ongoing priorities, including fostering collaboration and consolidation across the firm.
- Jarvie Worcester has been named head of real estate at Forum Investment Group. In the newly created role, Worcester will oversee all transaction activity across Forum’s real estate equity business, including land acquisitions, new development, co-GP investments, and operating property acquisitions and dispositions. Before joining Forum Investment Group, he served as managing director at Trammell Crow Residential.
- OnePoint BFG Wealth Partners, a registered investment advisor backed by Rise Growth Partners, has made four new appointments. Alex Mostovoi, former COO and CFO at Emigrant Partners, joins OnePoint BFG Wealth Partners as CFO. Mostovoi replaces Jeremy Groff, who joined Lazard as head of corporate FP&A. Carlos Noriega joins OnePoint BFG Wealth Partners as executive director of advisor solutions. Noriega previously served as an executive director at Morgan Stanley. Molly McClure has joined the RIA as executive director of marketing. McClure previously served as head of marketing at Intelliflo, a wealthtech platform. Zoie Silver joins OnePoint BFG as the executive director of advisor experience. Prior to joining the RIA, Silver served as the chief of staff and managing director at Beacon Trust.
- Industry veteran Ankit Kumar has been named director of the investment banking group at D.A. Davidson & Co. Kumar will be advancing the firm’s strategy to expand its industrial technology coverage. Before joining D.A. Davidson & Co., Kumar previously worked with Baird, where he worked across industrial technology, climate, and infrastructure solutions.
- PREP Property Group, a retail real estate operator, has formed PREP Exchange, an affiliate aimed to provide accredited investors with 1031 exchange solutions through Delaware statutory trust investments. PREP Exchange-sponsored products will enable investors to postpone capital gains taxes by exchanging real estate into institutional-grade, necessity-driven net-leased retail properties managed by PREP Property’s existing operating platform. DST offerings from the affiliate are expected to be introduced to the market by early next year.
- ExchangeRight has fully subscribed its $65.89M Net-Leased Portfolio 70 DST, which provides investors with monthly distributions at a current rate of 5.00% covered 100% by in-place revenues from the offering. The offering comprises 15 long-term net-leased properties diversified across 14 markets in 11 states, and 198,723 square feet. The Net-Leased Portfolio 70 DST is designed to be compatible with future acquisitions of its properties by the Essential Income REIT. Net-Leased Portfolio 70 DST is a closed offering and is not accepting new investors.
- Vestmark, a wealth tech provider, has partnered with WestEnd Advisors, an actively managed model portfolios and separately managed accounts, to launch a tax-advantaged U.S. Sector Strategy SMA. WestEnd Advisors’ U.S. Sector Index strategy provides long-term capital appreciation and mitigates risk by combining active, macroeconomically driven sector allocation and avoidance with direct indexing of desired sector exposures.
- New York-based MidOcean Partners, an alternative asset manager, has partnered with Point Digital Finance, a home equity investment platform. As part of the partnership, Point will sell MidOcean up to $600M of its home equity investment assets. Point’s HEIs enable homeowners to unlock the equity in their homes without taking on monthly payments.
- Dynasty Financial Partners has added Indiana-based Storen Financial, which manages about $500M in total client assets and serves over 5,000 business, tax, and investment clients. Storen Financial offers wealth management, financial planning, tax strategy, and investment services to high-net-worth individuals, families, and businesses. The team includes four equity partners, multiple CPAs and EAs, totaling over 40 in-house staff.
- Constellation Wealth Capital has acquired a minority stake in Dynasty Financial Partners affiliate firm DayMark Wealth Partners. DayMark Wealth Partners did not specify how much the stake was valued at. The stake is geared toward “accelerating DayMark’s growth trajectory.” Since launching in 2022, DayMark has more than $4.5B in assets under management and has offices in Florida, Ohio, Illinois, Utah, and Connecticut.
- Boston-based Pathlight Capital, a private credit investment manager, has raised $1.9B in the closing round for its fourth fund and the second tranche of its evergreen vehicle. The latest round boosts the firm’s assets under management to over $3.4B. The capital will be used to further Pathlight’s strategy of providing companies with asset-based financing solutions for refinancing, growth, acquisition, and dividend.
- Lightspeed Venture Partners, a venture capital firm, has raised $9B in the closing round across six vehicles, including $980M for the Lightspeed Venture Partners Fund XV-A, $1.2B for the Lightspeed Venture Partners Fund XV-B, $1.8B for the Lightspeed Select VI and $3.3B for the Lightspeed Opportunity Fund III, together with $600M for the Lightspeed Co-Investment Fund I, formed to co-invest alongside Lightspeed-managed vehicles. This capital will go towards investing in companies, technology, and supporting new growth opportunities.
- Octane, a lendtech startup, has raised $100M in its Series F funding round led by Valar Ventures, with participation from Upper90, Huntington National Bank, Camping World, and Holler-Classic Family. The funding will go towards financing, growth initiatives, and secondary share transfers to provide existing shareholders, including current and former employees. With its latest capital raise, Octane has now raised $342M in total equity funding since its inception.
- JP Morgan Asset Management has raised $1.4B in the closing round for its 12th flagship fund, dubbed Global Private Equity XII, exceeding its targeted goal of $1.25B. The fund will go towards pursuing buyout and venture capital opportunities through primary commitments, secondaries, and co-investments.
- Comvest Credit Partners, the private credit platform within Manulife Wealth & Asset Management, has closed its $377M South Cove 2025-3 CLO. The transaction marks the platform’s third CLO issuance for the year and fifth since launching its debut CLO vehicle in 2024. South Cove 2025-3 CLO, which closed on November 21, features a three-year-plus reinvestment period and a one-year non-call period. Recently, Manulife acquired a 75% stake in Comvest Credit Partners, which created a co-branded private credit platform, Manulife | Comvest. The new entity will be led by Robert O’Sullivan, co-founder and CEO of Comvest.
